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Geely Holdings Aims to Achieve Carbon Neutrality Across the Whole Value Chain by 2045

Published on: 27 June 2022 09:45 AM
by KnowESG
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Geely Holding Group recently released sustainability reports for 2020 and 2021. The reports can be obtained on the official website of Geely Holding.

Geely Holding Group joined the United Nations Global Compact (UNGC) in 2021, committing to upholding the ten principles of the Compact about human rights, labour, the environment, and anti-corruption, and contributing to the 17 UN Sustainable Development Goals through its strategies and operations.

Under these pledges, the group has said in its report that, by 2045, it intends to achieve carbon neutrality throughout its entire value chain. Individual businesses and brands within the group have also developed their carbon neutrality policies, objectives, and roadmaps.

To advise and facilitate the implementation of sustainability initiatives throughout the group's companies and brands, the group has established a board-level Environmental, Social, and Governance Committee to elevate the importance of sustainability management.

In addition, a Collaboration Steering Group consisting of the CEO of Geely Holding and the CEOs of connected brands and businesses has been established to promote the sharing of ESG resources and mutual empowerment across the group.

In 2021, sales of plug-in hybrid and battery electric vehicles across the group climbed by nearly 94% year-over-year to promote greener and more sustainable transportation.

The Group has expanded the overall solar power capacity at its facilities to 110 MW by utilising clean energy for environmentally friendly enterprises. Throughout the year, around 79,548 MWh of solar energy has been consumed.

The group is concerned not only with promoting the use of renewable energy but also with the environmental impact of its operations. At its production plants, industrial water recycling rates have reached 97.57 per cent.

To reduce resource consumption and waste production, the group has adopted circular packaging and promotes the reuse and recycling of sustainable packaging throughout its manufacturing base. To eliminate single-use disposable packaging, the group has established yearly recycling packaging goals.

The group's usage of sustainable materials has expanded beyond packaging. Throughout its entire value chain, the group prioritises the use of eco-friendly, sustainable materials, such as recycled steel, aluminium, plastics, and natural fibres, in the production of automobiles.

Successful implementation can be seen in many of the Group's affiliated brands' products, including the Zeekr 001 chassis made with 15% recycled steel and 25% recycled aluminium alloy, interior fabrics in the Geometry models obtaining the highest level of European eco-friendly material certification, Polestar's development of biodegradable composite materials, and Volvo's partnership with SSAB to use fossil-free, zero-carbon emission steel.

Since 2012, Geely Holding Group has issued yearly Corporate Social Responsibility (CSR) reports for eight consecutive years. The "CSR Report" was renamed the "Sustainability Report" in 2020 to represent the group's dedication to embracing the challenges and possibilities of global sustainability.

Due to the initial breakout of the global Covid-19 epidemic, the 2020 Sustainability Report and the 2021 Sustainability Report are being released simultaneously.

Source: Geely

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